Latest from Banking and finance

Lawyer aims to stretch bank fee claims
A lawyer taking action against the big banks over penalty fees says he will now try to stretch the claims back decades rather than work with the six-year statutory limit.

BNZ lifts interest rates
BNZ has increased its mortgage rates today leaving Westpac as the last major bank yet to make a move in the wake of the official cash rate rise.

Inflation dents retirement savings confidence
Adjusting peoples' retirement savings for inflation has dented the confidence of those putting a nest egg aside, an ANZ survey has found.

Kiwisaver: Fees can eat into kid's accounts
KiwiSaver fees can make a real difference to the return you get, particularly on accounts with low balances.

Campbell: Government must play its part
Many businesses think the raising of the official cash rate by the Reserve Bank was precipitate.

ASB unveils $400m capital raising plan
ASB Bank wants to raise up to $400 million in a fixed interest offer that it intends to list on the New Zealand share market.

Kiwibank hikes rates - who's next?
Kiwibank has announced it will lift its home loan rates in response to yesterday's Reserve Bank decision to increase the Official Cash Rate.

Heat on mortgage holders
Homeowners are being warned to prepare for harder times as the days of low interest rates come to an end.

Full steam ahead on interest rate rises
Reserve Bank governor Graeme Wheeler has signalled an aggressive, front-loaded start to the interest rate cycle now under way.

Dollar jumps on OCR hike
The New Zealand dollar jumped to a five-month high after the Reserve Bank raised the benchmark interest rate as expected and signalled further hikes are on the way.

Stronger kiwi dollar for longer - RBNZ
The Kiwi dollar will stay at an elevated level for longer than previously thought as the local economic story finds favour with foreign investors.

$18.9m Bridgecorp settlement reached
Three convicted Bridgecorp directors have reached an $18.9 million settlement with the failed finance company's receivers.

NZ's biggest-ever fraud trial delayed
A throwaway comment at a law conference last week by the boss of the Serious Fraud Office has delayed the start of the South Canterbury Finance fraud trial.

NZ biggest-ever fraud trial begins
The trial of three former heads of South Canterbury Finance in what is alleged to be New Zealand's biggest ever fraud case begins in Timaru today.

Lending restrictions putting brakes on market
Reserve Bank mortgage lending restrictions are cooling the housing market, a top economist says, because national sales volumes have fallen 13.4 per cent since October.

Fran O'Sullivan: China currency deal on the cards
Fran O'Sullivan asks: "Will all the chess pieces be in place within the next week in time for China to announce full convertibility of the NZ dollar into the renminbi during the PM's visit?"

Shadow board backs OCR rise
NZIER's shadow board is emphatically in favour of an increase in the official cash rate tomorrow.

Parity with Aussie dollar tipped
About 70 per cent of businesses surveyed by ASB Bank expect the New Zealand dollar to reach parity with the Aussie dollar over the coming year.

Sth Canty Finance trial looms
The Serious Fraud Office trial of South Canterbury Finance's chief executive and two of the failed firm's directors is due to begin in Timaru on Wednesday.